Fashion Ralph Lauren

  • Feb 13- Ralph Lauren Corp said on Thursday it expects a $55 million to $70 million hit to its fourth-quarter sales in Asia from the coronavirus outbreak in China. About two-thirds of Ralph Lauren's 110 stores in China have been temporarily closed over the past week, the luxury goods maker said. The company, which derives about 4% of its total revenue from China, said...

  • Feb 7- Canada Goose Holdings Inc, on Friday forecast a hit to its annual profit and revenue as the coronavirus outbreak in China hurt store traffic, sending shares of the luxury apparel maker down 5%. "People are staying home and avoiding shopping for their own health and safety in China and abroad.. we are seeing impact in our stores and on Tmall in China," Chief...

  • Canada Goose, which generates about a fifth of its revenue from Asia and sells $1,000 parkas and hoodies, said the travel restrictions imposed in Europe and North America have hurt demand from tourists. In the third quarter that ended before the virus outbreak, Canada Goose nearly doubled its revenue from Asia, helping overall revenue rise 13.2% to C $452.1...

  • Feb 7- Canada Goose Holdings Inc said on Friday lower store traffic in China and travel restrictions due to the coronavirus epidemic would impact its revenue and lead to a smaller profit in 2020, sending its shares down 4%. That translates to C $945 million to C $955 million, a hit of up to C $51.6 million. The forecast of C $1.33 per share to C $1.37 per share was below...

  • *Coronavirus outbreak comes hot on heels of Hong Kong woes. Burberry was the latest big brand to warn of a hit to demand on Friday, withdrawing its financial guidance for 2020 and saying it had closed more than a third of its stores in mainland China. With entire cities in the world's second biggest economy shut off, flights cancelled and several countries,...

  • Feb 6- Coach handbag maker Tapestry Inc on Thursday became the latest company to forecast a hit to its profit from the coronavirus outbreak in China, warning its sales could be dented by up to $250 million. Second-half financial results could be hit by about $200 million to $250 million in sales and 35 cents to 45 cents in earnings per share, Tapestry Chief...

  • Feb 6- Coach handbag maker Tapestry Inc cut its annual profit forecast on Thursday, citing an up to $250 million hit to sales from the coronavirus outbreak that has forced it to close a majority of its stores in mainland China. Tapestry is the latest in a growing list of companies, including Michael Kors and Ralph Lauren Corp, that have shuttered stores in China...

  • China, an important market for luxury brands, accounts for 3% of Coty's overall sales. "Investors have been on edge with beauty and personal care companies because of the impact of the coronavirus, and specifically the impact it will have to sales in the greater China area and travel retail channel," CFRA Research analyst Arun Sundaram said. Coty spent $600 million...

  • Feb 5- Michael Kors owner Capri Holdings Ltd cut its forecasts on Wednesday as it warned of a $100 million hit to revenue due to the coronavirus outbreak in China, which has led to 150 store closures and travel restrictions on high-spending tourists. A rapidly growing upper-middle class has made China a critical market for luxury fashion labels, but uncertainty...

  • Feb 4- The Nasdaq hit a record high on Tuesday and the S&P 500 posted its biggest one-day gain in about six months as fears of a heavy economic impact from the coronavirus outbreak waned after China's central bank intervened. The People's Bank of China injected a total of 1.7 trillion yuan through reverse repos on Monday and Tuesday, as the central bank said it...

  • Feb 4- The Nasdaq hit a record high on Tuesday and the S&P 500 headed for its biggest one-day gain in about six months as fears of a heavy economic impact from the coronavirus outbreak waned after China's central bank intervened. The People's Bank of China injected a total of 1.7 trillion yuan through reverse repos on Monday and Tuesday, as the central bank said it...

  • Feb 4- Gains in technology heavyweights helped Wall Street's main indexes climb for the second day on Tuesday, with fresh intervention by China's central bank calming investor nerves. China injected 1.7 trillion yuan via reverse repos on Monday and Tuesday, helping Chinese stocks reverse some losses and lifting the world equity index. "Investors seem to be...

  • Feb 4- Ralph Lauren Corp said on Tuesday it has shut about half of its 110 stores in China due to the coronavirus outbreak, which has so far killed over 420 people. Chief Executive Officer Patrice Louvet said the company was still assessing any potential financial impact from the epidemic. Ralph Lauren gets about 4% of its total business from China, he said.

  • Net revenue rose 1.4% to $1.75 billion in the quarter ended Dec. 28, inching past average analysts' estimate of $1.72 billion, according to IBES data from Refinitiv. The company's net income rose nearly three-fold to $334.1 million, or $4.41 per share, lifted by a one-time tax benefit. Excluding one-time items, the New York- based company earned $2.86 per share,...

  • Nov 13- Canada Goose Holdings Inc said earlier-than-usual shipments of its parkas and jackets to retailers would hurt its wholesale business in the current quarter and that its Hong Kong store came under pressure from protests in the city. The Toronto- based company, known for its $1,000 parkas, opened flagship stores in Beijing and Hong Kong last year to cater...

  • *S&P 500 directors' average compensation above $300,000 in 2018. BOSTON, Nov 8- It's nice work if you can get it. The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304,856 last year, topping $300,000 for the first time and 43 percent higher than it was 10 years ago, according to a new report released by executive...

  • *S&P 500 directors' average compensation above $300,000 in 2018. BOSTON, Nov 8- It's nice work if you can get it. The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304,856 last year, topping $300,000 for the first time and 43 percent higher than it was 10 years ago, according to a new report released by executive...

  • *China says trade deal would see tariffs removed in phases. Nov 7- Wall Street hit fresh record highs on Thursday, as investors cheered signs of progress in U.S.- China trade relations and a batch of largely upbeat earnings reports. China said on Thursday it had agreed with the United States to remove tariffs in phases, while state-owned Xinhua News Agency said...

  • Nov 7- Wall Street's main indexes hit fresh record highs on Thursday, as signs of progress in U.S.- China trade relations and a batch of largely upbeat earnings boosted risk appetite. China said on Thursday it had agreed with the United States to remove tariffs in phases, while state-owned Xinhua News Agency said Beijing was also considering removing...

  • Nov 7- Ralph Lauren Corp beat quarterly profit estimates on Thursday, driven by tighter control on expenses and strong demand for its Polo shirts and tweed jackets in China and Europe, sending its shares up 9% in premarket trading. With slowing sales growth in North America, Ralph Lauren has been sending more of its products to international markets, especially...